A disaster, fire or theft last year may mean a 2017 income tax deduction, and claiming it may be easier for certain natural disaster victims. But availability of this break narrows for 2018. Here’s what you need to know.

Miles driven for certain purposes can be tax deductible. But the rules are complex. And under the TCJA you may not be able to deduct some types of mileage expenses on your 2018
return that are deductible on your 2017 return.

The sales tax deduction can be valuable if you reside in a state with no or low income tax or purchased a major item, such as a car or boat. Can it reduce your 2017 tax bill?
Maybe. 2018 savings are more uncertain.

Entertaining clients, providing meals to employees and offering attractive transportation fringe benefits are important to success for many businesses. Unfortunately, the new tax law curtails deductions for these expenses.

If your business is engaged in domestic production activities, which include activities beyond traditional manufacturing, the Sec. 199 deduction can save you tax. But time is running out for this break.

It’s the total impact of the TCJA’s reduced tax rates and other changes that will determine whether your tax liability drops for 2018. Changes to the personal exemption, standard
deduction and child credit are just the tip of the iceberg.